ULIP VS ELSS

I am under the impression that both Unit Linked insurance Plan as well as Equity Linked saving Scheme qualify under Section 80 C of Income Tax Act. For those , who are as ignorant as I am, They are exempted from tax upto a ceiling of Rs 1,00,000 ( or is it 1,20,000). What ever the case might be, Which is a better option for investing- That would solve the dual purpose of tax exemption as well will lead to capital appreciation . What are the Pros and cons involving both of them? Which is more suitable in the short term?